Porsche is on its way to flotation on the Stock Exchange. This was confirmed by Volkswagen talking about “advanced discussions” on a potential IPO of the luxury brand.
For some time there has been talk of a possible listing of the Stuttgart car company and the operation seems to become more concrete day by day. The parties have negotiated a framework agreement which will serve as a basis for the preparation of the project. However, Volkswagen underlines that the final agreement will have to receive the go-ahead from the board of directors and the supervisory board, but for the moment a final decision has not yet been taken. “The possibility of a framework agreement being concluded and its content are currently open issues e depend on the approval of the Boards on both sides,” emphasizes Volkswagen.
However, today's news was enough for investors to unleash a rain of purchases. On the Dax 40, currently in the red due to tensions in Ukraine, Volskwagen stock gains almost 9,57%, rising to 191,76 euros.
It has also come to push purchases the opening of the Porsche and Piech families, who control Porsche If, Volkswagen's largest shareholder with a 31,4% stake and 53,3% of the voting rights. In a separate note, Porsche SE said it could buy ordinary shares of Porsche AG if it goes public.
The operation, on the other hand, would be one that leaves its mark. According to the first analyzes, it could in fact be a matter of an IPO of between 45-90 billion euros, against a market capitalization of the entire Volkswagen group of just over 115 billion euros.
Thanks to the stock market landing, Porsche could find the necessary resources to finance its own electric vehicle projects, becoming the protagonist of the ecological transition process required of the entire automotive sector. In fact, we remind you that, starting from 2035, diesel and petrol cars will no longer be sold in the European Union.
Meanwhile, taking a look at the accounts, the Stuttgart company does not seem to be participating in the crisis affecting the auto sector due to the pandemic and the shortage of chips. Indeed in 2021 the company has sold over 300 vehicles, with an increase of 11% compared to 2020, confirming the good time for luxury brands.
“Demand remains high and orders are robust, therefore Let's start 2022 with momentum and confidence in all regions,” Detlev von Platen, head of sales and marketing at Porsche Ag, told the data publication.
